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PartyGaming Cracks the FTSE
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Anyone who is a regular online poker player will have heard of PartyGaming, a large online gambling group that recently floated on the
London Stock Exchange (LSE), and is now set to join the revered FTSE index.
PartyGaming owns and operates
Party Poker, one of the Internet's most frequently visited online poker
rooms.
In one of the largest IPO floats that the LSE has seen in many years,
PartyGaming has once again made business headlines by becoming the first purely
Internet-based business to join the Financial Times-Stock Exchange (FTSE) 100
Index.
As of this week, PartyGaming stock was valued at 4.2 billion pounds,
outperforming many long-established FTSE-listed businesses including stalwart, British
Airways.
News of PartyGaming's FTSE move comes amidst warnings from the company itself of a
potential slow down in the future growth of the online gambling industry.
However, earlier this month PartyGaming reported a 70% increase in its revenue
over the
past six months.
PartyGaming's CE, Richard Segal, explained that the company would adapt its
infrastructure and marketing strategy according to its growth rate moving forward.
'We will concentrate on providing greater customer retention and added-value to
our players,' he said.
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> PartyGaming Stock Drops Even As Profits Rise
> World Poker Tour Drinks Budweiser
> Empire's Stock Soars As Bidding War Looms
> Empire Online In Hostile Takeover Bid
> Caribbean Poker Classic Now Worth $2 Million
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